Sears to shut 64 more Kmart stores: source

(Reuters) - Retailer Sears Holdings Corp <SHLD.O> will close a further 64 Kmart stores in the United States, a source familiar with the matter said, in addition to the nearly 70 it announced earlier this year.

Sears, which has posted a quarterly profit just once in the last four years, said in April it would close 68 Kmart discount stores and 10 Sears department stores to cut costs.

Once the largest U.S. retailer, Sears has lost its standing as customers move to online shopping or rivals such as Wal-Mart Stores Inc <WMT.N>.

Sears had a total long term debt of $3.4 billion and cash balance of $276 million as of July 30, 2016.